Why Econ 101 Is Ruining Us
Most people’s understanding of the economy comes from the explanations given by economic experts on the evening news. This may be supplemented by a vaguely remembered college course called ‘Econ 101,’ where we learned the most basic principles behind economics. These simplified explanations may help people to feel as though they understand what is happening in the marketplace, but are they an accurate description of economic theory? Robert Atkinson and Michael Lind think not.
Michael Lind co-wrote the article, “Econ 101 Is Killing America,” for Salon.com. He’s here to discuss why a basic understanding of economic theory may actually hurt more than it helps.